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| Photo Shows: GCEO NNPC Ltd, Engr. Bashir Bayo Ojulari flanked by the Chairman, Sanjiang Chemical Company, Mr. Guan Jianzhong (left) and Chairman, Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Mr. Bill Bi (right), signing the MoU for collaboration on Technical Equity Partnership (TEP) in support of the completion and operation of the Port Harcourt and Warri Refineries, in Jiaxing City, China, on Thursday, April 30, 2026. |
NNPC Limited has signed a Memorandum of Understanding (MoU) with two leading Chinese companies - Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd - to explore a Technical Equity Partnership (TEP).
This collaboration aims to complete and optimize the Port Harcourt and Warri Refineries, boosting Nigeria’s energy security.
The agreement was sealed in Jiaxing City, China, on Thursday, April 30, 2026, by NNPC Ltd’s Group CEO, Engr. Bashir Bayo Ojulari; Sanjiang Chemical’s Chairman, Guan Jianzhong; and Xingcheng’s Chairman, Bill Bi.
According to a statement from Andy Odeh, NNPC Ltd’s Chief Corporate Communications Officer, the partnership will tackle remaining construction at both refineries, ensure top-tier operations and maintenance, and drive upgrades for cleaner, more efficient, and profitable output.
The potential collaboration also contemplates expanding the refineries' petrochemical capacities and harnessing gas and downstream opportunities through the development of co-located, gas-based industrial hubs, the statement notes.
Speaking shortly after the signing, the GCEO of NNPC Ltd, Engr. Bashir Bayo Ojulari, described the MoU execution as a significant milestone, following more than six months of concerted engagement between the technical and management teams of NNPC and the two Chinese partners, Sanjiang and Xinganchen.
"All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC's refining assets in Nigeria, and the collective weight required for success," Ojulari noted.
The GCEO further stated that the MoU is an important step on the journey towards identifying potential technical equity partner(s) to restart and expand NNPC's refineries, and to explore opportunities in co-located petrochemicals and gas-based industries.
The MoU reflects the parties' shared intent to progress discussions in good faith, with any definitive arrangements to follow in due course and subject to customary approvals.
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